The implications of transactions costs for the performance of water pollution trading involving point and nonpoint sources are examined. The analysis focuses on the impacts of transaction costs on different classes of trading partners and its consequence on the trading equilibrium. The model of...

Federal and state regulatory agencies frequently support and encourage the use of market-based effluent trading to achieve social water quality goals. This paper evaluates the design of the recently approved Virginia Nutrient Trading Program. The cost implications of setting a near limit of...

Erosion and sediments are among the most important externalities in the developing world. These sediments negatively affect the quantity and quality of water in the downstream regions of watersheds. In light with the growing interest in many developing countries to use market-based instruments,...

Using the numerical technique of value iteration, this paper imposes several sustainability constraints on a simple multi-sector agroecosystem model, and provides analysis of the costs tradeoffs within and between generations. Results show that internalization of a stock externality is...

Economists frequently assess willingness to pay (WTP) for land preservation outcomes independent of information regarding policy implementation. The public, however, may not only be concerned with the consequences of land management, but also may have systematic preferences for policy procedures...

The public has increasingly demonstrated a strong support for open space preservation. Questions left to local policy-makers are how local governments can finance preservation of open space in a politically desirable way, whether there exists an optimal level of open space that can maximize the...

The institutional development of a domestic carbon trading institution in Canada that includes carbon off-sets must address the problems of providing the appropriate incentives to generate carbon reductions and removals and the problem of non-permanency of sequestered carbon. The paper analyzes...

This study compares the environmental and economic effects of alternative targeting strategies (benefit, cost, and benefit-cost ratio targeting) for reducing nitrate-N water pollution in the Des Moines Watershed in Iowa. The objective is achieved by applying an integrated modeling system to...

Among Conservation Reserve Program (CRP) participants, there is a distinction between farm households using the program to ease out of farming and those using the program to augment production receipts. We find evidence that factors other than farm profitability and environmental factors may...